Liberty International Underwriters has launched a new policy to cover marine liability and property-related risks for small and mid-size marine businesses owners and operators.
The new policy, LIU Marine Business Owners Policy, offers competitive policy forms that give easy access to a variety of optional coverages, including general liability, which is a key exposure for smaller-size businesses.
“Small business owners want a comprehensive policy that encompasses multiple coverages,” said Don Harrell, senior vice president of LIU marine. “They face the same marine liability and property risks as larger companies and need to have in place the same protections. We created LIU Marine BOP to meet this need in the market and to make it easier for small businesses to have access to a financially strong insurer with impeccable service standards.”
LIU Marine BOP coverage includes marine general liability; hull and protection & indemnity; marine excess liability; and mobile equipment/tools. Classes eligible for coverage are: ship repairer/ship builder, marina operator, marine construction, marine artisan, marine contractors, consultant/inspections, and scientific/research/educational.
LIU Marine provides a broad range of insurance products that include Ocean and Project Cargo, Marine Liabilities, Marine Builder's Risk and Hull and Machinery and Yachts.
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